Nigeria inflation expected to hover around 15% in August

Analysts and economic models suggest that Nigeria’s headline inflation rate for August may moderate slightly or remain elevated compared to July’s 15.43 percent. Forecasts from various sources place the expected rate between 15.01 percent and 15.94 percent.

While some models predict a third consecutive monthly decline to approximately 15.3 percent due to exchange-rate stability, other analysts expect a marginal increase. Experts note that while the harvest season could potentially ease food prices, the impact may be offset by high petrol and diesel costs, which continue to drive up transportation, production, and distribution expenses.

Food inflation is expected to remain a primary pressure point. Although core inflation may continue to moderate, the overall disinflationary momentum faces uncertainty from rising fuel prices and base effects.